Fear-based, highly competitive culture driven by upper management. Mid-management is forced to follow the suit otherwise it will be their job on the line. Everyone is under pressure to deliver but nobody provides guidance as to what is expected. If you're a super-star you're supposed to figure it out on your own.
Zero tolerance to even small mistakes - you're expected to work as a perfect robot. If you made a mistake...

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Advice to Management

Trust and respect people. The fact that you pay high salaries and provide unlimited PTO does not mean that you own people's lives. Give people freedom for mistake, at least one. One mistake means nothing especially in first year of employment. Encourage planning.